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Then-butanol market share is expected to increase to USD 1.62 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.36%.
This n-butanol market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers n-butanol market segmentations by application (butyl acrylate, glycol ethers, butyl acetate, direct solvent, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The n-butanol market report also offers information on several market vendors, including BASF SE, China National Petroleum Corp., The Dow Chemical Co., Eastman Chemical Co., Formosa Plastics Corp., Grupa Azoty SA, INEOS Group Holdings SA, KH Neochem Co. Ltd., Mitsubishi Chemical Corp., OQ SAOC, Perstorp Holding AB, Sasol Ltd., Saudi Arabian Oil Co., Texmark Chemicals Inc., The Andhra Petrochemicals Ltd., and Arkema SA among others.
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The rising demand for n-butanol as a solvent is notably driving the n-butanol market growth, although factors such as volatile crude oil prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the n-butanol industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key n-Butanol Market Driver
The rising demand for n-butanol as a solvent is one of the key drivers supporting the n-Butanol market growth. n-Butanol is highly recommended for coating solutions such as inks, toners, paints, and adhesives as it is colorless and exhibits high solubility. Most of the n-butanol manufactured by leading vendors is converted into its derivatives, which are used as solvents in the coating industry. For instance, butyl acrylate, one of the major products of n-butanol, is extensively used for coating resins and formulations because of its flexibility, durability, and softness. Further, it is used as a direct solvent by the automotive, construction, textile, and agrochemical industries. Thus, the use of n-butanol in end-use and industrial applications will promote the growth of the global n-butanol market during the forecast period.
Key n-Butanol Market Trend
Increasing preference for renewable n-butanol is one of the key n-butanol market trends that is contributing to the market growth. 100% bio-based n-butanol can be obtained by fermenting sugars using Clostridium microbe that acts as a catalyst. Bio-based n-butanol is a colorless, transparent, neutral liquid with a banana-like odor. As it is 100% bio-based, it is preferred in end-use applications such as cosmetics, personal care products, textiles, and agrochemicals and is relatively less toxic. Bio-based n-butanol is considered safe for consumption, and it is often used as a food additive in the food and beverage sector. It is also used as an excipient in drug formulation in the pharmaceutical industry. Thus, increased consumer preference for bio-based and renewable products can propel the growth of the n-butanol market considerably during the forecast period.
Key n-Butanol Market Challenge
Volatile crude oil prices is one of the factors hindering the n-butanol market growth. Volatility in crude oil prices can significantly increase the price of the final product and simultaneously reduce the demand for the product in the long run. For instance, the price of Brent crude oil started reducing from a peak price of 1 Barrel =0,136 Tonnes in 2021. Similarly, the price of WTI crude oil increased to $97 per barrel in 2021 from $51.58 per barrel in October 2017. Moreover, the decline in oil prices in recent years has compelled many players in the oil and gas industry to implement cost-cutting measures such as workforce layoffs and rig idling. Thus, fluctuation in crude oil prices will hamper the n-butanol market growth during the forecast period.
This n-butanol market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global n-butanol market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the n-butanol market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the n-butanol market encompasses successful business strategies deployed by the key vendors. The n-butanol market is fragmented and the vendors are deploying growth strategies such as product quality, price, product development, and capacity expansions to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The n-butanol market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the n-butanol market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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49% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the n-butanol market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing use of n-butanol as a biofuel and the significant growth of the automotive sector will facilitate the n-butanol market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on the regional market. However, the operations at n-butanol manufacturing sites are expected to rebound in the coming years due to the ongoing vaccination drives, which is anticipated to fuel the growth of the regional n-butanol market in focus during the forecast period.
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The n-butanol market share growth by the butyl acrylate segment will be significant during the forecast period. Butyl acrylate is primarily used in formulated products such as water-based latex paints, and other coating solutions. Moreover, butyl acrylate-based coating resins and formulations are extensively used in interior and exterior applications as they cause low volatile organic compound (VOC) emissions. Thus, the increasing preference for environment-friendly products with a low concentration of VOCs and other pollutants can have a significant impact on the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the n-butanol market size and actionable market insights on post COVID-19 impact on each segment.
n-butanol Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 5.36% |
Market growth 2022-2026 |
$ 1.62 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.97 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BASF SE, China National Petroleum Corp., The Dow Chemical Co., Eastman Chemical Co., Formosa Plastics Corp., Grupa Azoty SA, INEOS Group Holdings SA, KH Neochem Co. Ltd., Mitsubishi Chemical Corp., OQ SAOC, Perstorp Holding AB, Sasol Ltd., Saudi Arabian Oil Co., Texmark Chemicals Inc., The Andhra Petrochemicals Ltd., and Arkema SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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